Employee Provident Fund (EPF) India: All you need to know

Employee Provident Fund is a famous saving scheme operated by the Indian Government for salaried individuals. This scheme is aimed to flourish retirement savings for all Indian employees. Precisely, it is a corpus of funds, regulated by contributions of employee & employer. The contributions will regularly be made, mostly monthly by both parties. The contribution amount will be fixed from the start. Interest will be paid on the EPF balance. Both EPF balance and interest accrued are non-taxable. Tax benefits are the main attraction associated with this scheme. The withdrawals are allowed once the maturity period is finished. But still, pre-mature withdrawals can be made in the case of resignation or death of the employee. In exceptional circumstances when the employee cannot work, this saving scheme comes handy.

What Are The Benefits Of Employee Provident Fund Scheme?
The EPF scheme is considered as the most attractive retirement saving plan in India. Here are the key benefits that make EPF as the most significant saving scheme:

Tax Benefits: The employee earns the interest on his/her EPF balance. The interest accrued is completely tax-free. Withdrawals made after the maturity are non-taxable too. That is why people always fall for this scheme. The contributions made for EPF account are taxable as per section 80C of Income Tax Act.
Financial Security: This scheme provides financial security after retirement. The withdrawals are allowed after completion of the maturity period. But premature withdrawals are available for special circumstances. Such as, resignation, death, disability or discharge from the work.
Long-Term Investment: It acts as the long term investment with tax benefits.
Source Of Funds: In a case of emergency, the EPF serves as the source of liquid funds.
Pension & Insurance: Every employee who is eligible for EPF also contributes towards pension and insurance scheme. Both are beneficial after retirement.
Universal Account Number(UAN): The employee can access the account via single point thanks to Universal Account Number.
Who Is Eligible For Employee Provident Fund?
All the members of an establishment are eligible for EPF, when they join the institution. The only requirement is the number of employees. The establishment should have 20 or more employees in order to avail this scheme. If you are eligible for EPF, so does for insurance and pension plans. This way, EPF, insurance and pension makes the best retirement trio plan!
Employee Provident Fund Contributions
An EPF account is comprised of contributions. Here are the key facts about contributions:

Both employee and employer make the contributions
It is always fixed and predetermined
Regular on monthly basis
The rate will be determined as per the employee's basic salary plus DA
The current rate of contribution is 12%. But in following cases, it is down to 10%:
If the establishment has employees less than 20
Sick industries, which are recognized by BIFR
The establishments with net losses which are higher than net worth
Establishments which produces jute, beedi, coir, brick or guar gum
Establishments which have set fixed wage limit of Rs. 6,500
Interest Rate On Employee Provident Fund
The account holder earns the interest on the EPF deposit. The current interest rate determined by Government is 8.5 per annum. Every year, the Indian Government decide the interest rate for EPF account. Here are the prime facts about interest rate on EPF:

Interest is earned on every EPF balance, which is completely tax-free. The interest earned is calculated and accrued as per the predetermined interest rate for the year.
The financial year starts from April 1st to March 31st. It means, 8.8% interest rate is set for EPF balances for tenure of April 1st 2016 to March 31st 2017.
The interest is calculated monthly but accrued annually.
No interest will be credited if EPF account is inactive or inoperative.
No interest is allowed for withdrawn amounts.
No interest will be credited for amounts transferred to EPS by the employer.
Employee Provident Fund Forms
The most common problem people face is the lack of information about EPF forms. For different functionalities, there are different types of forms. You may want to register, make withdrawal or take advances from an EPF account via forms. Now question is which form is mandatory for particular action. This section is about various types of EPF forms created for different circumstances.
EPF forms are divided into following three broad categories:

EPF claim forms
EPF registration forms
EPF return forms
Form 31 (EPF Advance Withdrawals):
Premature withdrawals are restricted when it comes to employee provident fund. As this scheme was initiated for long term savings. But in special circumstances, one can make premature withdrawals. For this, the employee needs to submit Form 31.
In following case, the premature withdrawals are allowed:

To buy or build a residential house / purchase a plot of land
To renovate the house, specifically making the additions or removing the parts of the house
For the repayment of home loan
For the payment of medical treatment
To fund the wedding expenses
For financing the education
To make withdrawal before retirement
To make withdrawal if the establishment has been locked down
Form 14 (Funding An LIC Policy):
An employee can use its EPF account for funding the LIC policy. This service is allowed, if following conditions are met:
⦁ The employee must have finished two years of service
⦁ The employee must sign the declaration stating account balance that can meet payments and premium payments for two years
⦁ The premiums will be paid from the employee's contribution only

Form 10D (Employee Pension Scheme):
The employees over the age of 58 years with 10 years of service, can use this form to settle their pensions funds. Following pension schemes can be claimed via this form:

Form 10C (Withdrawal benefit under EPS):
The employee can avail the facility of withdrawal benefits under Employee Pension Scheme. In following cases, the application for claim can be made:

For the employees over age of 58 years but haven't finished 10 years of service
For the employees who haven't finished 10 years of service before turning to age of 58 years
For the employees who have completed 10 years of service before discontinuing the employment below age of 50 years
For the employees who have finished 10 years of service having age between 50 - 58 years, but don't want to opt for reduced pension
This family or nominee can avail this claim in case of death of employee before completing the 10 years service tenure, after age of 58 years
For the employees, who are members for 180 days or more. Regardless of the period, for which contributions are not applicable
For this claim, you need to fill and submit Form 10C along with required documents.

Form 13 (Transfer of EPF account):
The employee has the option of transferring old EPF account to new one. For this task, you need a Form 13. A set of certain rules is followed while making a transfer of EPF account. First of all, the PF contributions are sent to CTO and details to the EPFO. The pension contributions won't be transferred unless the establishment is exempt from the pension scheme. If the establishment is exempt from pension, PF contributions will be held in the Trust. Otherwise, both will be held with EPFO.

Form 19 (Final EPF Settlement):
The employees can claim the final settlement when they leave the employment, but don't get involved in any other employment. Before retirement, if employee changes the employment, the EPF transfers will be allowed using Form 13. Otherwise, you need a Form 19.
In the following case, final settlement of EPF account will be carried out:

Retirement
Resignation, but did not join any other establishment, which is eligible for EPF scheme
Discharged from the establishment along with compensation under Industrial Dispute Act, 1947
Retrenchment

Emigration to a foreign country
In the case of resignation or discharge, a waiting period of 2 months is mandatory before the final settlement of EPF account. An EPF account can stay active for 3 years even without making contributions. The interest will be earned and credited to such EPF accounts. After three years, the account will become inactive.

Form 20 (Final settlement in case employee's death):
In case the employee has died, the family or nominee can claim the final settlement by submitting Form 20. Along with Form 20, the requisite forms have to be submitted to claim insurance and pension. The types of forms to be submitted depends on the time of employee's death.

If employee died before turning to 58, while in service, Form 20, Form 10D and Form 51F are required
If the deceased was above 58 years of age, had completed 10 years of service, Form 20, Form 10D and Form 51 are needed
If the deceased was above 58 years of age, had not completed 10 years of service, Form 20, Form 10C and Form 51F are required
How To Transfer EPF Account Online Or Offline?
While in service, the employees contribute to their EPF accounts. When they change the employments, they can either withdraw or transfer the current EPF account. In a case of transfer, the EPF account balance will be transferred from old account to new one. The balance will have interest earned on the contributions made.
A few years back, the transfer was possible via an offline method. Recently, the government has introduced online channel to transfer EPF account online. Due to convenience, online method is preferred over the offline.
But for your guidance, we have explained both methods right here:

How To Transfer EPF Account Offline?
First of all, the employee has to fill and submit the attested Form 13 to the past or current employer. Both past or present employer can attest the form.
Now Form 13 will be submitted to regional EPF office associated with the attesting employer. All PF contributions will be sent to the Trust from an old account.
Now the old employer has to submit the Annexure K to the regional EPF office. This Annexure K shows the details about service and tenure of the employee. After verification, the PF trust will make the transfer via NEFT. The EPF balance from the old account will be moved to the new one.

How To Transfer EPF Online?
First off, the employee should check whether both past and present employer owned digital signatures with the EPFO. Otherwise, you need to use offline method
Now visit the official website of EPFO, here you will find the option for Online Transfer Claim Portal.
Next you have to click on eligibility to file or transfer claim online.
To check eligibility for Online Transfer Claim Portal, you need to submit PF details, i.e. old and new EPF account details.
If you have registered the account, log in with your member ID. Otherwise, register yourself to get login details.
You will be directed to Online Transfer Claim Application.

Under the "Claim" button in the menu, click on request for an account transfer.
Now you will see three subforms Part A, Part B and Part C of Form 13. Part A includes personal details. Part B demands details about old EPF account. Part C requires details about current EPF account.

Now click on the form/claim attested by the old or present employer.
Preview the form for final changes and proceed.

You will get the PIN on provided mobile number. Enter the PIN and accept the declaration.

Now print out the form to sign and submit for attestation to the chosen employer. The employer will verify the form on the portal. Once the verification is finished, the EPFO will transfer the EPF balance to a new one.

Final Verdict
Hopefully, this comprehensive guide on Employee Provident Fund proved to be helpful for you. EPF is popular long term saving scheme in India, which comes with insurance and pension benefits. But people have so many questions about this scheme. We made sincere effort to provide necessary information for people who are looking for such answers. In case, you have any question related to EPF; please feel free to share with us!

I worked for a company in 2014 and left the same in 2015 total PF deduted as per column wise

INR 9200 INR 2400 and INR 5600

The question is how much i get at the time of withdrawal.

SECOND

I switch from first company to other now I in the current company I use the same UAN in for PF deduction , new account is also update in the system and properly deduction going on. But in the column of previous company DATE OF RESIGNATION is not reflecting and the same company and when I try to transfer the amount message reflect no employer available or something like that information.

also note that i had applied (APPLIED EARLIER IN 2016) for claim online status and when i check online claim status then message reflect as below.

Claim-Form-13 (Transfer Out)(Transfer (Unexempted to Unexempted in other region or to Exempted Establishments)) Claim id-DSNHP160350001797 Member id-DSNHP10471130000000012 has been rejected due to :- CALL FOR FORM 9/OK

Also note when i apply for ONE MEMBER ONE EPF ACCOUNT then message reflect

Details of previous account are different than present account. Hence claim request cannot be processed.

THIRD

Please confirm if I apply for withdrawl for Mother illness then the same amount will withdrawn from both or current. As I dont want to withdraw from the current company.

I think it is really a helpful fund for the employees of Indian Government in order to save something for their special occassions. They can utilize this fund in the emergency situations. Moreover, the premature withdrawal's availability is interesting feature as well. Am I right?

I think EPF rate of interest has been slashed recently. It is 8.55% only for financial year 2017-18 which is lower than previous 5 years rates. It used to be:
For FY 2016-17 - 8.65%
For FY 2015-16 - 8.80%
For FY 2014-15 - 8.75%
For FY 2013-14 - 8.75%
For FY 2012-13 - 8.50%
Hope this clarifies!

Employee Provident Fund is an excellent scheme run by the government. In this scheme, everyone is a winner. The employer and employee both contribute to EPF and the employee gets the money back in the form of retirement fund. What do you think needs to amended in this scheme?

India is getting better and better economically as the management team has quite talented personnel who knows how to promote a new scheme. EPF is a great gift for the employees to save some amount for their retirement fund. It is good to plan now for the next 20-30 years.

I think nowadays the EPF processing is a bit faster. The amount shall be credited to your account in 15 days. In some cases, it may take a bit longer based on individual details.
If you have your UAN, You can check status online.

@sdadwal Quite an informative post I am also a salaried person. I joined my job recently. My company told me that EPF contribution shall be made. But, I was not clear what exactly it is and how I will get it back. This detailed post cleared my different doubts. Thanks a lot.

I have heard that EPF transfer & withdrawal process has become a bit faster. But, it varies from individual to individual. If you have linked UAN then its easy. But, what about an earlier EPF account with an old employer?

I left a company few years back. I had my EPF account long back then. At that time this online system wasn't there. I couldn't withdraw from that EPF account. I thought I was earning interest on it, so let it be. But, now I am working in a new company and they have opened my EPF account plus I have been alloted UAN also. That's ok.
But, how can I transfer my earlier EPF amount. Do I need to visit my old employer which is in a different city? Can it be transferred online? Please guide me how to do it.

Such an excellent article on the Employee Provident Fund in India.This article vastly covers all the important points of employee provident fund in India. These type of funds are very useful for the Government employes as both employer and employee make contribution to it. Rate of contribution is also explained in the article.

Interest rates just keep on fluctuating every year. How will one save big this way? There should be an increase in interest rates rather than reducing. EPF counts for our retirement savings. We need to have a good lump sum in any of our retirement plans.

@sdadwal UAN has simplified the entire process of EPF withdrawal. There is esay online access and all details can be fetched online. In some cases, one still might have go to EPF office for claims. But, overall the process has become quick.

@sdadwal EPF is a good way to build a lump sum for retirement of salaried people. Both, employer and employee contribute towards EPF. At least, this is some saving that we can start as and when we get a job.

The Employees Provident Fund (EPF) are feasible options for saving money. EPF enables one to save regularly, which can grow into a considerable amount by the time the user retires. Although both the saving options give tax benefits. Tax Benefits: Under section 80C, the employees’ contribution to EPF is allowed to be deducted up to Rs 1,50,000. This is the maximum amount that can be deducted from a subscriber’s basic salary.

@sdadwal Hi, I heard recently some rules have changed and now EPF can be withdrawn online only. Is it really true? I mean, won't we be able to withdraw our EPF amount through physical form? Are there any conditions for the ones who can get EPF money online or not? If anyone can guide here.

Did you just switch to the new job? Are you planning to transfer the PF account and have no clue about the process? Luckily, you are in the right spot.
A few years back, transfer of PF account seemed to be impossible. But today, EPFO is making the sincere effort to make PF system useful and convenient for the employees. Transfer of PF account is the most prominent feature offered by EPFO.
In past, you had to make PF withdrawal when you get the new job. This situation was not healthy; you would receive taxable PF corpus. Today, you have complete freedom regarding PF account transfer. Not only you can forward the previous balance to a new account, but you can also continue the pension scheme for future benefit. Isn't commendable!
Still, people don't opt for the transfer. It is not profitable to close old account and get the new one. When you have the option to carry a previous balance, why don't you go for it!
Benefits Of Online PF Transfer
[Tweet "Save Yourself From Hassle By Doing Online PF Transfer! "]
If you still don't want to do the transfer, please check out its benefits right here:
The online transfer system ensures transparency in the processing. With one click, you can track the status of your application. While in past, you have to go from desk to desk to get the information.
The Delhi office of EPFO monitors the regionals PF offices. This way, regional PF are more accountable towards their operations.
The online transfer is faster than traditional offline transfer. Within three weeks, you can expect the transfer of PF account.
In online transfer system, there are fewer chances of errors.
You should avoid closure of an account. If you make the withdrawal before 5 years of opening account, the interest earned becomes taxable. That's why online transfer is a preferred choice.
Step-By-Step Guide For Online Transfer Of PF Account
Online system may haunt some people. Honestly, due to online access, the transfer system has become easier like never before.
Pre-Requisites For Online Transfer
The following conditions should be met to transfer account online:
The employee should be registered member at EPFO portal to claim transfer online.
Your previous and current Member IDs should be present in EPFO database.
The employer must own a registered digital signature certificate with EPFO.
For your convenience, we have explained step-by-step transfer process as below:
First of all, visit the official website of EPFO at http://members.epfoservices.in/home.php. Here, you need to create a login ID using UAN details.
You will be directed to the page, where you need to submit details like UAN, mobile number and employer's details, the number of establishment and account number.
Once you have provided all the details, click on "Check Eligibility".
Eligible account holders can register on EPFO web portal for online transfer.
Submit the proof of photo ID, such as PAN card, Aadhaar card or driving license.
Next, you will receive the PIN on your registered number. You have to verify that PIN.
Once you have verified the PIN, you will get the confirmation message.
Now you be directed to EPFO Member Claims Portal. Enter Document ID and phone number to log in.
On the top, you will see the option for transfer of PF account.
Now you have to fill a form for PF transfer. It has three sub-parts. In a first part, your personal details are required. The second one asks for old PF account details. In a third part, submit the new PF account details.
Once you are satisfied with the details, enter the captcha to get PIN. Click on "I Agree". Once you have entered the PIN, the transfer will be initiated.
Now you can download the form for print out. You may submit this form to the new or past employer. It verifies that real employee is making the transfer.
One copy will be forwarded to the respective employer and regional PF office.
After the verification is finished by an employer, your old PF account balance will be transferred to the new account.
Final Verdict
Undeniably, EPFO has made the system extremely flexible. Instead of withdrawal, employees can make a transfer to save for their retirement. We made a sincere effort to provide all necessary information about online PF transfer.
If you have any query or information, feel free to share with us!

A fixed deposit is one such financial instrument which will help you deposit a sum with a bank for a predetermined period of time and the bank pays an interest on that sum. In essence, it’s a way of lending money to a bank, the opposite of taking a loan. These are sometimes even referred to as bonds or term deposits.
A fixed deposit is one of the primary sources of cheap capital for any bank. This capital, multiplied by millions of fixed deposits made by a countless number of people adds up to a huge corpus which the bank lends out to people in the form of various loans, among other investment avenues. The difference in the interest received by the person making a fixed deposit and the interest received by the bank from a person paying back a loan is where the bank makes its money.
How Fixed deposit works for banks
For instance, if person “A” makes a deposit of Rs.10,000 with the bank for 2 years, he receives an interest of 7% pa (compounded yearly) from the bank. Now the bank has a sum of Rs.10,000 with itself for 2 years. Let us say person “B” requests a loan of Rs.10,000 from the same bank. The bank will now lend out the sum of Rs.10,000 it holds to person “B”, charging an interest of 12% pa (compounded yearly). At the end of 2 years, person B pays back the principal of Rs.10,000 along with the interest of Rs.2,544 but the bank has to also pay back person A its principle amount and the interest paid by the bank is just Rs.1,449. So the difference of 2544-1449=1095 is what the bank profits. If understanding this concept, then you know how any modern day bank works.
The rates of interest offered by the banks for a fixed deposit is mainly decided by the RBI in India. This decision of what the interest rates offered must be, is arrived after lengthy and complicated calculations and an elaborate decision-making process.
Features of a Fixed Deposit:
The Principal Amount
Needless to say this (but I still have to) you will receive the WHOLE principle amount back at maturity. This principle amount is what you keep with the bank as a deposit and what earns you interest. The interest rate is applied to this principle amount to find the amount of interest payable to you by the bank.
Maturity
Maturity is the tenure or the period for which the fixed deposit is made. For instance, in the above example, the maturity of the fixed deposit made by “A” was 2 years. The minimum period one can opt for a fixed deposit is 7 days and this period can go up to 10 years.
Maturity Amount
The amount received by you at the end of the maturity is called the maturity amount. This maturity amount comprises of the principle amount in addition to the interest earned on the fixed deposit. Banks now a days also have an auto-renewal system with the help of which after confirming with you, the deposit is rolled over for a new tenure.
Interest rate
As mentioned above, the interest rates (also called “repo rates”) are mainly decided by the RBI which keep updating them time and again. There are a lot of factors over which the RBI decided what the rates of interest should be. Individual banks offer their rates of interest very close to this rate decided by the RBI.
Also, interest rates for senior citizens are always substantially higher.
Liquidity
Fixed deposits are considered to be illiquid assets. Yes if you need to, you CAN withdraw your money before maturity but your bank might charge you a penalty for withdrawal before the maturity. The exit criteria from a fixed deposit of every bank are subject to their individual policies and hence we suggest you should be well aware of these criteria before opening a deposit.
Interest:
The main reason why you should opt for a fixed deposit is because these deposits offer far better returns in the form of interest than a normal savings account. There are various ways how you can choose to receive the interest earned on your deposits. We shall discuss this in detail when I explain different types of fixed deposits ahead.
Risk:
Since the deposit is a way of lending money to the bank, the risk is virtually zero. The only way your bank won’t be able to pay you back the money promised to you at maturity is if the bank shuts down, and what are the chances of that happening. Fixed deposits are considered as the safest form of investments.
Tax Treatment:
If you are a salaried employee, you will know about TDS (Tax Deducted at Source). For the ones of you not well versed with this tax; if your interest receivable at the end of a financial year from your fixed deposit exceeds Rs.10,000, the bank will deduct the TDS and provide a receipt to the deposit holder as a TDS tax receipt. The tax on the interest is applicable at the rate of the tax slab that the deposit holder belongs to. Hence if the deposit holders overall income is less than 2.5lpa then there are no tax deductibles. The government of India does not allow proceeds of a fixed deposit to be paid in cash if the said proceeds are in the excess of Rs.20,000 in any year.
Types of FDs:
Simple FD:
These have two different types of pay out methods. The quarterly payouts or regular payouts earn a simple interest on the amount of money put into the deposit. This interest will be paid to you in the regular installments throughout the time period and at maturity, the principle is paid back. The second kind of payout method is the typical one where the interest every year is added to the principle for the next year. This is compound interest and will be paid to you at maturity.
Flexi-Fixed Deposit/ Sweep FD:
The Flexi deposit is linked to a savings bank account. A number of funds in the deposit can be swept in and swept out to the savings account it is linked to. For example: If you have Rs.20,000 in your Flexi FD and your savings account has only Rs.5,000, you can withdraw more than what your savings account contains. The additional money will be deducted from your Flexi deposit directly.
Tax Saver FD:
With this type of fixed deposit, you can enjoy a deduction of up to 1.5 lakh pa under section 80c. The tenure of this deposit is 5years and the deposit cannot be broken at all.
One cannot request a loan against this kind of FD.
One additional advantage of opening an FD is that you can avail a loan from a bank against your FDs (except a tax saver FD). Although these rates of interest may or may not be able to beat inflation, it is better to earn 7%-8% interest than to earn almost nil keeping your funds in a savings account and see it loose its value 6% pa(due to inflation). To see why investing in a fixed deposit is not a goo idea . Read my post on https://blog.bodhik.com/5-reasons-you-should-not-invest-in-fixed-deposits
FAQs
Who and how can someone apply for an FD?
Any individual or institution can apply for a fixed deposit at any bank. The individual or institution just needs to have a savings account in that bank.
2. Why is a fixed deposit beneficial?
A fixed deposit although has lesser liquidity than a savings or current account, it provides higher returns for your money. The rates of interest on fixed deposits are more than that of any account.
3. What is the minimum amount to make a fixed deposit?
Starting from Rs.1,000 you can make a fixed deposit of any amount.
4. Can I withdraw money from my FD before it reaches maturity?
Yes, you can very easily withdraw your money or “break” the deposit before maturity. You will receive 0.5-1% lower interest than what you were promised by the bank as a penalty for premature withdrawal.
5. Are the interest rates equal for everyone?
No, Senior citizens receive higher interest.
How and where will the tax be deducted?
The tax will be deducted from your interest yield if it exceeds Rs.10,000. The rate of interest will be decided by which tax slab you belong. Which means the interest earned by your FD will be treated as income as an individual to you.

There are a number of Government Saving schemes and policies in India to benefit the investors.
Such saving and investment schemes provided by Government of India enable general public to start investing and gain profits. These are average return schemes with a low to no risk policy.
The benefits of investing under these saving schemes is that along with investment, an individual can claim tax exemption benefit under Section 80C up to Rs.1.5 Lac of The Income Tax Act.
So, you get a combination of: Investment + Tax benefits
Best Government Saving Schemes in India:
Let me take you through a 3 most popular investment schemes in India:
1. Public Provident Fund (PPF):
Similar to Employee provident Fund, PPF is an investment scheme launched by the provident Fund department (EPFO). The average return for last 5 years under this scheme is 7-8%. The current PPF interest rate for quarter beginning Apr'19 is 8% p.a. The lock-in period is 15 years and this a a fairly long term investment scheme.
2. National Pension Scheme (NPS):
This is an initiative taken by government to provide a pension support to individual on retirement. These is a long term investment and can be withdrawn only at the age of 60 yrs.
3. Sukanya Samriddhi Yojana (SSY):
SSY was introduced to promote and encourage welfare of the girl child. SSY account can only be opened by a legal guardian of the girl child whose age is less than 10 years. The account has tenure of 21 years and can be opened with as low as Rs. 1000. The average return over the period is 7-8%.
So, these are the most preferred Govt. saving schemes in India, as per my knowledge. Do you have any other saving or investment schemes in India that need to be listed here? Feel free to add details on the same.

@shreem I have a bit idea that if you open your own PPF account and also on behalf of minor child then the combined limit shall be maximum Rs.1.5 lakhs only. So, Total deposit i.e. For self+minor should not exceed Rs.1.5 lakhs a year.
But, since you are thinking to contribute from HUF to minor account, so rules might vary for that. You need to check with the respective bank regarding that.

Public Provident Fund (PPF) scheme is a popular long term investment option that is being backed by the Government of India. It provides interest rates and returns that are fully exempted from tax. Whereas, Pension accounts or National Provident Fund (NPF) is a kind of investment where a fixed sum is paid on a regular basis. This invested sum becomes available after retirement. A pension plan can also be said as ‘Defined Benefit Plan’. the Employees Provident Fund (EPF) are feasible options for saving money. EPF enables one to save regularly, which can grow into a considerable amount by the time the user retires. Although both the saving options give tax benefits and are government-sponsored schemes, there are basic differences relating to the quantum of tax exemptions that can be utilized, degree of flexibility of determining the equity exposure and rate of return, among other things.

If both the parents are utilising their full yearly PPF limit. Can the HUF contribute to Minor Child's PPF? Considering one of the parents PAN is in the PPF of Minor, will the HUF contribution be added to the max. PPF of parent's limit?

@Harleen PPF is a very very popular investment scheme in India. And, whenever I hear someone talking about PPF, I learn that many people have an SBI PPF account. I feel opening a PPF account in SBI seems to be a favourite of investors. While there are various other banks and post offices also offering PPF account opening facility.
Is there any specific reason for going with SBI PPF account? or Is it just a matter of choice? Any idea on it!

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